What Is INDICIA Radar—and How Should You Read It?

INDICIA Radar is a daily crypto market report—not a token. It combines market data with activity in perpetual futures and options to show where risk may be concentrated and whether large traders appear to be taking consistent positions. The service describes the report as a decision journal, not a tool for predicting prices. 1

What goes into the report?

INDICIA Radar draws on market data, perpetual futures activity on Hyperliquid, and options activity on Deribit. It also uses Anthropic’s Fable 5 model to look for patterns in INDICIA’s own data archive. 1

Looking at these markets side by side can surface a more complicated picture than a simple bullish-or-bearish label. In its July 19, 2026 report, for example, INDICIA said large traders were adding to long positions in perpetual futures while other traders were buying downside protection in options. 4 That divergence is useful context, but it is not a definitive call on what prices will do next.

How to read the signals

• Check which market each observation comes from. Futures and options are different markets, and activity in one does not necessarily represent the views of all traders. 14
• Pay attention when the signals conflict. A split between futures and options is part of the picture; it should not be flattened into a simple “bullish” or “bearish” verdict. 4
• Treat positioning as an observation, not a forecast. INDICIA says the Radar aims to show where risk is concentrated and whether “smart money” is in agreement—not to guess the direction of prices. 1
• Look at how previous scenarios were assessed. An archived report dated September 1, 2026, reviewed three earlier scenarios: one was confirmed, while another was not. Market hypotheses can be wrong as well as right. 2

Can it help with crypto trading?

The reports can offer context on BTC and ETH and help readers compare what is happening in futures and options. But the available information does not, by itself, establish that the analysis predicts the market or should be used as an independent buy-or-sell signal. INDICIA presents the Radar as a “decision journal,” not a prediction. 1

A sensible way to use it is to read each report in full, check which data supports its interpretation, and separate observed activity from proposed scenarios. Positioning in derivatives tells you what is happening in those markets; it does not guarantee that prices will move in the same direction.